Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The decline has continued on the cryptocurrency market as the rates of most of the coins keep falling.
Top coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.12% over the last 24 hours.
Image by TradingView
On the daily chart, buyers are getting weaker as the price is about to fix below the vital zone of $29,000. If that happens, the drop is likely to continue to the area of $28,000-$28,250 until the end of the week.
Bitcoin is trading at $28,974 at press time.
ETH/USD
Ethereum (ETH) is less of a gainer than BTC as the decline has made up 0.09%.
Image by TradingView
A similar picture can be seen on the daily time frame of ETH as the price is on its way to testing the support at $1,816. If a breakout happens, the decrease may lead to the test of the $1,760-$1,780 area shortly.
Ethereum is trading at $1,820 at press time.
XRP/USD
XRP has lost more as its rate has declined by 2.13%.
Image by TradingView
XRP is testing the support level of $0.61 on the daily chart. If a bounce back does not happen and the candle closes around that mark, there is a high possibility of seeing an ongoing correction to the $0.57-$0.58 zone soon.
XRP is trading at $0.6117 at press time.
DOGE/USD
DOGE is not an exception to the rule, falling by almost 1%.
Image by TradingView
Despite the fall, the rate of DOGE is far from the main levels, which means there are low chances of seeing any sharp moves soon. However, if the decline continues to the support at $0.07253, bears might seize the initiative that can lead to a further drop to $0.07.
DOGE is trading at $0.07360 at press time.
SHIB/USD
SHIB has followed the drop of DOGE, going down by 2.92%.
Image by TradingView
The price of SHIB remains bullish as the rate is still above the crucial level of $0.00000878. If the false breakout of it happens, there is a possibility of seeing a bounce back, followed by an impulse to the $0.00000950 mark.
SHIB is trading at $0.00000899 at press time.
Tomiwabold Olajide
